NIO is taking the next step into the future: The ET9 with innovative steer-by-wire technology receives approval for mass production. Investors react enthusiastically.
• NIO receives approval for mass production of the ET9 with SBW
• Important step towards on-time delivery
• NIO shares jump for joy
NIO has received approval for mass production of its premium model ET9 with Steer-by-Wire (SBW) technology from China’s Ministry of Industry and Information Technology (MIIT), it was announced today. SBW describes an innovative steering system that does without a mechanical connection between the steering wheel and the wheels. Rather, the steering movements are transmitted digitally. The ET9 is the first mass-produced model with SBW technology in China, as CnEVPost reports. The approval also paves the way for the on-time delivery of the flagship sedan, it says. This is scheduled to begin in the first quarter of 2025.
Flagship sedan ET9
In addition to the SBW technology, the ET9 has other convincing capabilities. The Chinese electric car manufacturer does not want to announce further details until NIO Day 2024 on December 21st, says CnEVPost William Li, founder, chairman and CEO of NIO.
NIO shares are taking off
Investors on the NYSE celebrate the news. At times, the NIO share price rose by 12.15 percent to $5.17.
Editorial team finanzen.net
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